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If You Borrow $50,000 at an Annual Interest Rate of 12

Question 105

Multiple Choice

If you borrow $50,000 at an annual interest rate of 12% for six years,what is the annual payment (prior to maturity) on a fully amortized loan?

A) $0.00
B) $6,000.00
C) $8,333.33
D) $12,161.29

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